The immediate backdrop is the active U.S.–Israel campaign against Iran that began with coordinated military strikes in March 2026; those strikes were presented by U.S. and Israeli officials as responses to a series of Iranian attacks on regional shipping lanes, allied facilities and partner forces in the months prior to March 2026.
Structurally, the crisis rests on a layered legal and diplomatic architecture: the 2015 Joint Comprehensive Plan of Action (JCPOA, agreed July 14, 2015) that temporarily constrained Iran’s nuclear program; the United States’ unilateral withdrawal from the JCPOA on May 8, 2018 and subsequent reimposition of U.S. secondary sanctions through 2018–2019; and a sequence of United Nations Security Council resolutions and IAEA safeguards decisions dating back to the 2000s that created the multilateral sanctions regime and inspection obligations.
A Congressional Budget Office assessment cited by Al-Monitor concludes the U.S.-Iran war has already cost roughly $38 billion and will add roughly $3 billion a month if current operations continue.
That tally, which the CBO presented as a running fiscal burden, captures direct operational spending and near-term war-related expenses the agency tracked; Al-Monitor emphasizes the figure to show how the budgetary toll is compounding.
U.S. and allied forces’ continued combat activity in the region is the proximate driver the CBO uses to project the monthly increase, though Al-Monitor’s summary does not detail which line items in the CBO estimate account for the largest shares of spending.
Policymakers in Washington now face choices about whether to reallocate funds, seek supplemental war appropriations, or alter the campaign tempo to limit further budgetary damage, and the CBO projection provides a concrete metric for those deliberations.
The piece does not attempt to assign blame for the conflict’s origins; it treats the CBO number as a fiscal reality requiring legislative and executive attention.
Readers should note that while Al-Monitor reports the CBO figures, the article excerpt provided here does not include the full CBO report text or a breakdown of personnel, equipment, or long-term reconstruction costs that could raise the total further.
Left- and right-leaning outlets are covering this story differently — in which facts to emphasize, which context to include, and how to frame causes and consequences.
7 specific areas where coverage diverges — see below.